Rio’s renewed interest in SQM is welcome by the Chilean government, which had expressed concerns about a potential and dangerous concentration in the market should major lithium producers, such as China’s Tianqi, acquire the 32% interest in SQM.

Big mining companies, restored to health following the 2015-16 price crash, are seeking to rationalize their portfolios and acquire assets in line with heightened focus on the best quality minerals and anticipated demand for battery materials.